There’s a ‘Double Bottom’, which pushed the market higher, but the 34 Moving Average has acted as resistance, so the price is consolidating.
Also, we’ve got a ‘Triple Top’ pattern, which supposed to be the beginning of a local downward correction.
Thus, we should watch the nearest important support at 0.6622 – 0.6609 as a potential bearish target. If a pullback from this area happens little later on, there’ll be a moment for another upward price movement towards the previously tested resistance at 0.6666 – 0.6683.
NZD/USD H4
